- Published: 18 October 2007 18 October 2007
The financial year of REpower Systems AG will in the future commence on April 1 of each year and end on March 31 of the year immediately following.
Up to now the financial year has been the calendar year. The period from January 1, 2008 until March 31, 2008 represents a short fiscal year. The background to the conversion is the heavily cyclical business development of the sale of wind turbines with substantially more sales in the last quarter and a rather weak quarter in terms of sales at the start of each year. In addition, the major shareholder Suzlon intends in the future to consolidate REpower. The financial year at Suzlon already runs to March 31 with the result that the conversion of the REpower financial year contributes to harmonisation with the major shareholder.